中国股市的动荡引发了比特币投资兴趣

尽管中国股市持续下跌和经济低迷，但中国投资者越来越多地转向加密货币作为避风港。中国对加密货币挖矿和交易的禁令并没有阻止投资者通过灰色市场和金融科技平台寻求比特币和其他数字资产的避难。这一趋势凸显了在经济不确定性和股市波动的情况下，加密货币作为替代投资选择的吸引力。

Image Source: Unsplash

图片来源：Unsplash

Since July 2021, China’s stock market has declined and shows no signs of sustained reversal. The CSI 300 index of Chinese stocks fell to 1.6% on January 22nd, while the Hang Seng index fell to 2.3%, three times lower than at the beginning of the year. While the Chinese authorities have been coming up with plans to bootstrap its stock market, it has not prevented investors from seeking refuge in Bitcoin and other cryptocurrencies, despite the country’s ban on crypto mining and trading since 2021.

2021年7月以来，中国股市一路下跌，并没有出现持续逆转的迹象。 1月22日，沪深300指数跌幅为1.6%，恒生指数跌幅为2.3%，较年初跌幅三倍。尽管中国当局一直在制定引导股市的计划，但这并没有阻止投资者寻求比特币和其他加密货币的庇护，尽管该国自 2021 年以来就禁止加密货币挖矿和交易。

Crypto as a Safe Haven

加密货币作为避风港

As the Chinese stock market prolonged its downturn, many Chinese investors have been seeking refuge in cryptocurrencies despite their ban in the country. Shanghai-based finance sector executive Dylan Run described Bitcoin as a “haven” and even likened it to gold, as the decline in the country’s economy has made investing in the mainland challenging yet disappointing, so people want to move their money and assets abroad.

随着中国股市持续低迷，尽管中国禁止加密货币，但许多中国投资者仍在寻求加密货币的庇护。上海金融业高管迪伦·润(Dylan Run)将比特币描述为“避风港”，甚至将其比作黄金，因为中国经济的下滑使在内地的投资充满挑战但又令人失望，因此人们希望将资金和资产转移到国外。

According to Run, more and more investors are making a run for crypto assets and cryptocurrencies. Despite it being banned in China, procurement of Bitcoin has been relatively easy through the grey markets and fintech platforms. The process works by using platforms like WePay to convert yuan to stablecoins and trade them with middlemen. Another way is to opt for rural bank cards and a relatively low purchase price to work around the implemented ban.

据 Run 报道，越来越多的投资者正在追逐加密资产和加密货币。尽管比特币在中国被禁止，但通过灰色市场和金融科技平台购买比特币相对容易。该过程通过使用 WePay 等平台将人民币转换为稳定币并与中间商进行交易。另一种方法是选择农村银行卡和相对较低的购买价格来规避禁令。

China’s Economic Downturn

中国经济低迷

The economic downturn didn’t happen in a snap. Problems that concern internal and external affairs have slowly built up to this moment since 2017. The real estate market, which used to be strong, is now dealing with a debt problem and slowing sales. This is affecting not only construction but also related industries and investor confidence. Another problem also manifests in the demographic situation, as an aging population and a falling birth rate mean that fewer people are working and less money is being spent at home, which slows down economic growth generally.

经济衰退并非一蹴而就。 2017年以来，内忧外患的问题慢慢堆积起来。曾经强劲的房地产市场现在面临着债务问题和销售放缓。这不仅影响建筑业，还影响相关行业和投资者的信心。另一个问题还体现在人口状况上，人口老龄化和出生率下降意味着工作的人越来越少，家里花的钱也越来越少，这总体上减缓了经济增长。

Moreover, policy changes happen all the time, especially when it comes to how tech companies are regulated, which has made things less stable on the ground. It is now harder for businesses to run, which discourages investments from both inside and outside the country.

此外，政策变化一直在发生，特别是在科技公司的监管方式方面，这使得实际情况变得不稳定。现在企业经营更加困难，这阻碍了国内外的投资。

The rising geopolitical tensions, especially with the US, also cause uncertainty on the other side of the world. It affects Chinese exports and messes up global supply lines. The global economic slowdown is making China’s economic chances even worse. This is because of things like the conflict in Ukraine and stricter monetary policies. Metal, oil, and other commodity costs that go up and down make it more expensive for Chinese companies to make things, which limits their ability to make things.

不断加剧的地缘政治紧张局势，尤其是与美国的紧张局势，也给世界另一端带来了不确定性。它影响了中国的出口并扰乱了全球供应链。全球经济放缓使中国的经济机会更加渺茫。这是因为乌克兰冲突和更严格的货币政策等因素。金属、石油和其他大宗商品成本的上涨和下跌使得中国企业的制造成本更高，从而限制了它们的制造能力。

More than the economic downturn itself, stock market volatility imposes even more problems. As a solution to the stock market meltdown, China has been selling out stocks worth close to $10 trillion at this point. To say the least, it has not been looking great for China despite attempts to reverse the plummeting. The investing confidence also went down along with the stocks, which diverts investors offshore and to different ventures like digital assets, even with the country’s prohibited crypto trading. 

除了经济衰退本身之外，股市波动还带来了更多问题。作为股市崩盘的解决方案，中国目前已抛售价值近10万亿美元的股票。至少可以说，尽管中国试图扭转经济下滑的局面，但其前景并不乐观。投资信心也随着股票的下跌而下降，这将投资者转移到海外并转向数字资产等不同的企业，即使该国禁止加密货币交易。

Ban on Cryptos

禁止加密货币

Cryptocurrencies have been banned in China for more than one reason. Its volatility posed a concern, as it was assumed to create a loophole and a threat to the financial system and consumer protection. Additionally, the cryptocurrency’s anonymity raised fears of facilitating money laundering and other illicit activities, prompting China to crack down on Bitcoin transactions.

加密货币在中国被禁止的原因不止一个。它的波动性引起了人们的担忧，因为它被认为会造成漏洞并对金融体系和消费者保护构成威胁。此外，加密货币的匿名性引发了人们对促进洗钱和其他非法活动的担忧，促使中国打击比特币交易。

The ban also addresses concerns related to capital control, as Bitcoin provided a means to bypass China’s strict controls, allowing wealth to exit the country without government oversight. Furthermore, considering cryptocurrencies like Bitcoin as potential rivals or sources of technological disruption may have an impact on the ban because China is actively developing its own central bank digital currency (CBDC). 

该禁令还解决了与资本管制相关的担忧，因为比特币提供了一种绕过中国严格控制的手段，允许财富在没有政府监督的情况下流出该国。此外，将比特币等加密货币视为潜在竞争对手或技术颠覆来源可能会对禁令产生影响，因为中国正在积极开发自己的央行数字货币（CBDC）。

A Spark, Not a Bonfire

火花，不是篝火

While China’s current status implies a promising gateway for cryptocurrency growth in the country, it cannot be taken as a clear go-ahead to expand digital asset investment over there, as the stock market may plummet further despite the massive sell-outs and stimulus program by the Chinese government. Despite the newly found solace in Bitcoin, China’s crypto trading is yet to expand into a viable market for foreign investors and even its local ones.

尽管中国目前的状况意味着该国的加密货币增长前景光明，但这并不能被视为扩大该国数字资产投资的明确理由，因为尽管中国推出了大规模抛售和刺激计划，但股市可能会进一步暴跌。中国政府。尽管比特币新近找到了安慰，但中国的加密货币交易尚未扩展到外国投资者甚至本地投资者的可行市场。

Even so, the venture for digital assets and lucrative leisure investments has unconstrained possibilities. Crypto gaming is still on a steady rise as cryptocurrency exchange companies, like Binance, debut new gaming platforms and launch new partnerships with blockchains. The landscape has also been competitive with online casinos through the years. Some of the best online casino sites for real money also offer crypto casinos and Bitcoin as a mode of payment. Aside from inclusive payment and bankroll systems, a lot of online casinos today boast generous offers and promotions that make casino gaming even more enjoyable and rewarding.

即便如此，数字资产和利润丰厚的休闲投资的风险仍然具有无限的可能性。随着币安等加密货币交易公司推出新的游戏平台并与区块链建立新的合作伙伴关系，加密游戏仍在稳步增长。多年来，该领域也一直与在线赌场竞争。一些最好的真钱在线赌场网站还提供加密赌场和比特币作为支付方式。除了包容性的支付和资金系统之外，当今许多在线赌场还提供慷慨的优惠和促销活动，使赌场游戏变得更加愉快和有价值。

China’s current predicament may indicate a huge loss in investments, but such a situation can also open new opportunities for other ventures. However, investments in crypto assets in such countries are still a product of calculated risks and well-informed decisions.

中国目前的困境可能意味着投资的巨大损失，但这种情况也可能为其他企业带来新的机遇。然而，这些国家对加密资产的投资仍然是经过计算的风险和明智决策的产物。